Four Routes for Profit Growth

Season 4, Episode 5

We’re always wanting to structure our marketing in such a way that it makes business more profitable, rather than just adding to the expense column. Profit often improves by focusing on the four main ways to grow a business. Those are increasing the efficiency of your processes, increasing their customers’ average spend, increasing the number of times they buy from you and by increasing the number of customers (of the type you want). You can fit almost anything you do to grow a business into these 4 categories.

While most businesses just focus on expanding the number of customers, when you’re working on all four options, you can really start to have a better balance because you’re not just looking for new people all the time. Some businesses have seasons where it’d be common for a new business to become a client, or for an online store to gain a large number of new customers, but you can see other revenue throughout the year when working on the other 3 categories as well, and spreading the eggs into more baskets. As we go through this, it’s not necessarily a list of things to put on your to do list, it’s more options you have to choose from, so you can add a little more variety, or try something new and see how it goes when compared to what you’ve previously tried.